Preston, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Preston Neighborhoods Since 2000




Preston, MD Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Preston Housing Market Information

With 703 people, 324 houses or apartments, and a median cost of homes of $207,282, Preston real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Preston, accounting for 78.79% of the town's housing units. Other types of housing that are prevalent in Preston include duplexes, homes converted to apartments or other small apartment buildings ( 14.60%), large apartment complexes or high rise apartments ( 3.31%), and a few row houses and other attached homes ( 3.31%).

The most prevalent building size and type in Preston are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 62.04% owning and 37.96% renting.

The housing in Preston was primarily built before 1939 ( 31.96%), making the housing stock in Preston some of the oldest overall in America, although there is a range of ages of homes in Preston. The next most important housing age is between 1940-1969 ( 23.97%), followed by between 2000 and later ( 23.42%). There's also some housing in Preston built between 1970-1999 ( 20.66%).

Vacant housing appears to be an issue in Preston. Fully 10.74% of the housing stock is classified as vacant. Left unchecked, vacant Preston homes and apartments can be a drag on the real estate market, holding Preston real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Preston Home Appreciation Rates

Homes have actually lost value in Preston over the last then years, as home values have seen a decline of 24.20% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Preston home appreciation rates at 0.00%, which equates to an annual appreciation rate of 0.00%.

Appreciation rates are so strong in Preston that despite a nationwide downturn in the housing market, Preston real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Preston appreciation rates continue to be some of the highest in America, at 7.16%, which is higher than appreciation rates in 82.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Preston. Preston appreciation rates in the latest quarter were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Maryland, our data show that Preston's latest annual appreciation rate is higher than 90% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$207,282

Preston, MD HOME PRICES

Value Range
> $1,094,000 1.8
$821,001 - $1,094,000 0.0
$547,001 - $821,000 3.2
$437,001 - $547,000 2.7
$328,001 - $437,000 7.2
$219,001 - $328,000 31.1
$109,001 - $219,000 42.1
$55,001 - $109,000 3.6
$0 - $55,000 8.2

Low for MD
High for Nation

Value Relative to Nation Value Relative to State
30.4347826086957 77.0992366412214

Number Of Homes And Apartments:
324

Preston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
42.88% 2.09% 2 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,559 / per month

Homeownership Rate

Homeownership
Owners 62.04
Renters 37.96
Vacant 10.74

Housing Market Details

 

Age of Homes

AGE OF Preston HOMES
2000 or Newer 23.4
1970 - 1999 20.7
1940 - 1969 24.0
1939 or Older 32.0

Types of Homes

TYPE OF Preston HOMES
Single-Family 78.8
Townhomes 3.3
Small Apt. Buildings 14.6
Apt. Complexes 3.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Preston HOMES
No Bedroom 0.00
1 Bedroom 12.12
2 Bedrooms 11.29
3 Bedrooms 50.41
4 Bedrooms 13.50
5 or more bedrooms 12.67